Baker Hughes (NASDAQ:BKR) PT Raised to $50.00 at TD Cowen

Baker Hughes (NASDAQ:BKR) had its price target lifted by equities researchers at TD Cowen from $46.00 to $50.00 in a report released on Monday, Marketbeat Ratings reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price objective would suggest a potential upside of 31.61% from the stock’s current price.

BKR has been the subject of a number of other reports. Bank of America cut their price objective on shares of Baker Hughes from $40.00 to $38.00 and set a “buy” rating for the company in a report on Monday, July 15th. Benchmark reaffirmed a “buy” rating and set a $40.00 target price on shares of Baker Hughes in a research note on Friday. The Goldman Sachs Group boosted their price target on shares of Baker Hughes from $36.00 to $38.00 in a research note on Tuesday, April 23rd. Jefferies Financial Group increased their price objective on shares of Baker Hughes from $45.00 to $46.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, Morgan Stanley lifted their target price on Baker Hughes from $40.00 to $43.00 in a report on Tuesday, April 23rd. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Baker Hughes Stock Up 0.9 %

BKR opened at $37.99 on Monday. The firm’s 50 day simple moving average is $33.64 and its two-hundred day simple moving average is $32.25. The company has a market capitalization of $37.91 billion, a PE ratio of 21.22, a PEG ratio of 0.64 and a beta of 1.41. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $37.99. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08. The company had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $6.81 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The firm’s revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 EPS. As a group, equities analysts forecast that Baker Hughes will post 2.11 EPS for the current year.

Insider Buying and Selling at Baker Hughes

In other news, EVP Maria C. Borras sold 55,980 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $32.00, for a total value of $1,791,360.00. Following the completion of the transaction, the executive vice president now directly owns 92,035 shares of the company’s stock, valued at approximately $2,945,120. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

A number of large investors have recently added to or reduced their stakes in the company. Raymond James & Associates boosted its holdings in shares of Baker Hughes by 13.8% in the 4th quarter. Raymond James & Associates now owns 466,769 shares of the company’s stock valued at $15,954,000 after buying an additional 56,707 shares in the last quarter. Blue Trust Inc. lifted its position in Baker Hughes by 15.5% during the fourth quarter. Blue Trust Inc. now owns 2,432 shares of the company’s stock valued at $85,000 after acquiring an additional 327 shares during the last quarter. Pallas Capital Advisors LLC boosted its stake in Baker Hughes by 6.4% in the fourth quarter. Pallas Capital Advisors LLC now owns 49,167 shares of the company’s stock valued at $1,681,000 after acquiring an additional 2,962 shares in the last quarter. JB Capital LLC grew its holdings in Baker Hughes by 3.5% in the fourth quarter. JB Capital LLC now owns 68,805 shares of the company’s stock worth $2,352,000 after purchasing an additional 2,347 shares during the last quarter. Finally, Ballentine Partners LLC increased its position in shares of Baker Hughes by 14.6% during the fourth quarter. Ballentine Partners LLC now owns 19,169 shares of the company’s stock worth $655,000 after purchasing an additional 2,447 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Company Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.